News
VENO tv: FirstEase: How FirstBank Is Making Big-Ticket Purchases and Everyday Bills Easier
Date: 21-09-26
For many Nigerians, buying a new smartphone, laptop, television, refrigerator or other essential household appliance can become a major financial decision, particularly when the entire cost has to be paid at once.
The same challenge may arise when an unexpected electricity, data, cable television or other household bill becomes due at a time when available cash is limited.
It is this gap that FirstEase, FirstBank’s response to the growing Buy Now, Pay Later (BNPL) model, is designed to address. The solution gives eligible customers an opportunity to access selected products and services while spreading repayment over an agreed period.
FirstEase is a digital lending solution that allows customers to shop, pay bills and split payments over time. The offering operates through two major channels: FirstEase for e-commerce purchases and FirstEase for bill payments.
The product is particularly relevant to salary earners and other eligible customers looking for more flexible ways to manage purchases and household expenses without necessarily visiting a physical banking hall.
From Gadgets to Household Appliances
One of the most practical applications of FirstEase is its e-commerce offering.
Eligible customers can purchase products through participating FirstBank partner merchants and pay through an instalment arrangement instead of funding the entire purchase immediately.
Partner e-commerce platforms and merchants include Ringaz, Chamuze, Pointek, Webuyam, Electromall and Uwana Energy, alongside FirstBank’s partnership with Klump, which aggregates merchants such as Jumia, Konga and ShopAhome.
Products available through participating merchants include smartphones, laptops, tablets, televisions, refrigerators, washing machines, microwaves, sporting equipment, gadgets and other household essentials.
This means that a customer who requires a device for work, a television for the home or an essential appliance that cannot be postponed may consider a structured repayment option rather than waiting until the full purchase price has been saved.
For e-commerce purchases, customers make a minimum 30 per cent equity contribution, while the remaining balance is financed through FirstEase.
The facility has a repayment tenor of up to six months, with monthly repayments scheduled around the customer’s payday. The maximum loan amount is ?1 million.
Beyond Shopping: Paying Bills With FirstEase
FirstEase is not limited to shopping.
The bill-payment variant allows eligible customers to access financing while paying selected bills through the FirstMobile and LIT App platforms.
Customers select a biller, enter the required transaction details and activate the FirstEase option before completing the payment.
Eligible payments include electricity, data, cable television, airtime and related services.
Unlike the e-commerce option, FirstEase bill payment requires zero equity contribution. The minimum transaction amount is ?1,000, while the maximum is ?200,000, with a 30-day repayment tenor.
The two variants therefore meet different needs: one supports the acquisition of products through approved merchants, while the other provides financing directly at the point of paying selected everyday bills.
A Digital Journey Built Around Convenience
The FirstEase process is largely digital.
For an e-commerce transaction, a customer selects a product, proceeds to checkout, chooses FirstCheckout and then selects FirstEase.
The customer’s account number is validated, eligibility is assessed and a preferred repayment tenor is selected. Details including the upfront equity contribution, monthly instalment and applicable repayment obligations are presented before the customer accepts the terms and completes the transaction.
FirstEase also applies credit assessment and affordability checks as part of its eligibility process.
The assessment considers FirstBank’s credit and customer records, account activity, salary-account status and a valid Bank Verification Number, alongside third-party scoring and enhanced artificial intelligence and machine-learning models.
Credit-risk and machine-learning systems are also used to determine personalised eligibility amounts for both the e-commerce and bill-payment options.
Flexible Repayment With Responsibility
The attraction of Buy Now, Pay Later is largely about timing — giving customers access to products and services when they are needed while spreading the financial obligation over an agreed period.
For e-commerce FirstEase transactions, there is an interest charge of three per cent per instalment on a reducing balance, alongside a two per cent one-off insurance charge at disbursement and a FirstCheckout fee of 1.2 per cent, capped at ?2,000.
For bill payments, there is a five per cent monthly interest charge and a three per cent monthly insurance charge.
Customers are also provided with repayment information and reminders.
FirstEase incorporates automated repayment and collection features, while SMS and email reminders are sent ahead of repayment dates. Customers can also request information about outstanding obligations through available mobile channels.
The arrangement therefore combines convenience with repayment discipline. Customers are expected to understand all applicable charges, repayment dates and terms before accepting an offer.
Financing Integrated Into Everyday Transactions
At its core, FirstEase reflects a shift in the way consumers can access financing for everyday needs.
Rather than treating credit simply as cash deposited into an account, the product connects financing directly to the purchase of a product or the payment of a bill.
FirstBank describes the difference between FirstEase and a conventional consumer loan in terms of its point-of-sale financing structure, streamlined approval process, speed, convenience and direct integration with participating merchants.
For customers, the proposition is straightforward: where eligibility requirements are met, FirstEase provides another way to manage the cost of important purchases and selected bills without making the entire payment immediately.
As digital adoption and e-commerce continue to reshape how Nigerians shop and pay for services, FirstEase places financing within that same digital journey
— from selecting a product or bill to completing the transaction, receiving purchased goods and managing repayment.
In a market where flexibility is increasingly becoming as important as access, FirstEase is positioning Buy Now, Pay Later as more than a payment option. It represents FirstBank’s effort to help eligible customers meet important purchasing and payment needs within a manageable repayment structure.
Date: 21-09-26
For many Nigerians, buying a new smartphone, laptop, television, refrigerator or other essential household appliance can become a major financial decision, particularly when the entire cost has to be paid at once.
The same challenge may arise when an unexpected electricity, data, cable television or other household bill becomes due at a time when available cash is limited.
It is this gap that FirstEase, FirstBank’s response to the growing Buy Now, Pay Later (BNPL) model, is designed to address. The solution gives eligible customers an opportunity to access selected products and services while spreading repayment over an agreed period.
FirstEase is a digital lending solution that allows customers to shop, pay bills and split payments over time. The offering operates through two major channels: FirstEase for e-commerce purchases and FirstEase for bill payments.
The product is particularly relevant to salary earners and other eligible customers looking for more flexible ways to manage purchases and household expenses without necessarily visiting a physical banking hall.
From Gadgets to Household Appliances
One of the most practical applications of FirstEase is its e-commerce offering.
Eligible customers can purchase products through participating FirstBank partner merchants and pay through an instalment arrangement instead of funding the entire purchase immediately.
Partner e-commerce platforms and merchants include Ringaz, Chamuze, Pointek, Webuyam, Electromall and Uwana Energy, alongside FirstBank’s partnership with Klump, which aggregates merchants such as Jumia, Konga and ShopAhome.
Products available through participating merchants include smartphones, laptops, tablets, televisions, refrigerators, washing machines, microwaves, sporting equipment, gadgets and other household essentials.
This means that a customer who requires a device for work, a television for the home or an essential appliance that cannot be postponed may consider a structured repayment option rather than waiting until the full purchase price has been saved.
For e-commerce purchases, customers make a minimum 30 per cent equity contribution, while the remaining balance is financed through FirstEase.
The facility has a repayment tenor of up to six months, with monthly repayments scheduled around the customer’s payday. The maximum loan amount is ?1 million.
Beyond Shopping: Paying Bills With FirstEase
FirstEase is not limited to shopping.
The bill-payment variant allows eligible customers to access financing while paying selected bills through the FirstMobile and LIT App platforms.
Customers select a biller, enter the required transaction details and activate the FirstEase option before completing the payment.
Eligible payments include electricity, data, cable television, airtime and related services.
Unlike the e-commerce option, FirstEase bill payment requires zero equity contribution. The minimum transaction amount is ?1,000, while the maximum is ?200,000, with a 30-day repayment tenor.
The two variants therefore meet different needs: one supports the acquisition of products through approved merchants, while the other provides financing directly at the point of paying selected everyday bills.
A Digital Journey Built Around Convenience
The FirstEase process is largely digital.
For an e-commerce transaction, a customer selects a product, proceeds to checkout, chooses FirstCheckout and then selects FirstEase.
The customer’s account number is validated, eligibility is assessed and a preferred repayment tenor is selected. Details including the upfront equity contribution, monthly instalment and applicable repayment obligations are presented before the customer accepts the terms and completes the transaction.
FirstEase also applies credit assessment and affordability checks as part of its eligibility process.
The assessment considers FirstBank’s credit and customer records, account activity, salary-account status and a valid Bank Verification Number, alongside third-party scoring and enhanced artificial intelligence and machine-learning models.
Credit-risk and machine-learning systems are also used to determine personalised eligibility amounts for both the e-commerce and bill-payment options.
Flexible Repayment With Responsibility
The attraction of Buy Now, Pay Later is largely about timing — giving customers access to products and services when they are needed while spreading the financial obligation over an agreed period.
For e-commerce FirstEase transactions, there is an interest charge of three per cent per instalment on a reducing balance, alongside a two per cent one-off insurance charge at disbursement and a FirstCheckout fee of 1.2 per cent, capped at ?2,000.
For bill payments, there is a five per cent monthly interest charge and a three per cent monthly insurance charge.
Customers are also provided with repayment information and reminders.
FirstEase incorporates automated repayment and collection features, while SMS and email reminders are sent ahead of repayment dates. Customers can also request information about outstanding obligations through available mobile channels.
The arrangement therefore combines convenience with repayment discipline. Customers are expected to understand all applicable charges, repayment dates and terms before accepting an offer.
Financing Integrated Into Everyday Transactions
At its core, FirstEase reflects a shift in the way consumers can access financing for everyday needs.
Rather than treating credit simply as cash deposited into an account, the product connects financing directly to the purchase of a product or the payment of a bill.
FirstBank describes the difference between FirstEase and a conventional consumer loan in terms of its point-of-sale financing structure, streamlined approval process, speed, convenience and direct integration with participating merchants.
For customers, the proposition is straightforward: where eligibility requirements are met, FirstEase provides another way to manage the cost of important purchases and selected bills without making the entire payment immediately.
As digital adoption and e-commerce continue to reshape how Nigerians shop and pay for services, FirstEase places financing within that same digital journey
— from selecting a product or bill to completing the transaction, receiving purchased goods and managing repayment.
In a market where flexibility is increasingly becoming as important as access, FirstEase is positioning Buy Now, Pay Later as more than a payment option. It represents FirstBank’s effort to help eligible customers meet important purchasing and payment needs within a manageable repayment structure.
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